Rs. 0

Total Interest Payable

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Total Payment (Principal + Interest)

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Disclaimer :
Calculator is an indicative tool to check personal loan eligibility and assist the user to calculate the loan amount that the user will be eligible to borrow. Calculation results are approximations and for information purposes only and interest rates quoted are indicative. Actual interest rates and loan eligibility amount will vary. To check eligibility for Personal Loan and know the actual eligibility amount, the user should share his complete and accurate details by clicking on the ‘apply now’ tab and provide additional information/ documents required for assessment of user’s application. Calculation results are not intended to substitute professional advice which the user is advised to seek. Loan terms and conditions apply.

How is Personal Loan eligibility calculated?

How can you check personal loan eligibility?

If you wish to apply for a personal loan, you will need to determine your eligibility before applying for it. To do that, you can use the eligibility calculator. Here is how to check the personal loan eligibility:

Open the loan eligibility calculator

Select the city of residence, date of birth, monthly income and monthly expenses

Once you select these fields, the tool will show an amount that you will be eligible for

You can apply for the same amount and get quick loan approval online

How much personal loan you can get on your salary?

A final, personal loan amount that you can get from a lender depends on your salary, city of residence, age and other eligibility criteria. The best thing to know how much personal loan you can get on your salary will be using the personal loan eligibility calculator. It will tell an amount that you can apply for as the loan after you select your city, age, salary and monthly expenses on the tool. This way, you can apply for the eligible amount and avoid the chances of rejections.

What is the personal loan eligibility for salaried employees?

A personal loan for salaried employees can be availed if you can meet some eligibility conditions. Have a look at the personal loan eligibility of Bajaj Finserv:

You need to be a residing citizen of India

You should be aged between 23 and 55 years to apply for personal loan

You need to be employed with a private, public limited company, or an MNC

How to qualify for a personal loan?

Qualifying for a personal loan is easy if you can meet the eligibility criteria of Bajaj Finserv and submit some documents.

You should be aged between 23 and 55 years

You need to be a resident of India

You should be working for an MNC, private or a public limited company

KYC documents

Employee ID card

Last 2 months’ salary slips

Salaried bank account statement of the previous 3 months

Along with these, the lender will also look at your CIBIL score and repayment history before approving your personal loan application.

What is the minimum salary required for personal loan?

The minimum salary for personal loans that you need to be earning will depend on your city of residence. The minimum salary that you need to be earning is Rs.25,000 and that depends on your city. But, if you are earning Rs.25,000, then you can’t apply for a loan in Pune. It is because the minimum salary in Pune is Rs.35,000. The minimum salary required to apply for personal loans will differ from cities to cities.

What is the maximum age to avail a personal loan?

At Bajaj Finserv, the personal loan age limit is between 23 and 55 years. Hence, the maximum age to avail a loan is 55 years. But, the younger an applicant is, the better is his/her chance to get the loan approval at a lower rate of interest. It is because he/she has more working years left than an applicant in his/her 50s. Thus, the applicant won’t face issues in paying the loan EMIs without the risks of defaulting.

How to check if you are eligible for a personal loan or not?

If you want to apply for a personal loan to meet some of your urgent needs, then you need to check if you are eligible for the desired loan amount or not. To do that, you can check your loan eligibility by using the personal loan eligibility checker. You need to select your city, age, income and expenses and the tool will predict the eligible amount. As per the qualifying amount, you can apply for the same and get instant approval.

What is the minimum CIBIL Score to get a personal loan?

Although the required CIBIL score for personal loan is 750+, you can also get the loan approval when you have a lower credit score. You won’t get the loan approval if the CIBIL score is under 599. However, if you have a score of 600-700, you may get the loan approval, but at a higher rate of interest. It may affect your budget and lead to an increased EMI amount.

Can a Person Avail a Personal Loan and a Home Loan Simultaneously?

Yes, a person can have a personal loan and a home loan account at the same time. If you have an ongoing personal loan and you are seeking a home loan, then you can apply for it. The only condition is that your debt to income ratio should not be above 50%. You can have multiple personal loans and yet apply for a home loan. You should ensure having higher creditworthiness so that you can manage home loan and personal loan repayments.

Check Your Personal Loan EMI

Calculator is an indicative tool to check personal loan eligibility and assist the user to calculate the loan amount that the user will be eligible to borrow. Calculation results are approximations and for information purposes only and interest rates quoted are indicative. Actual interest rates and loan eligibility amount will vary. To check eligibility for Personal Loan and know the actual eligibility amount, the user should share his complete and accurate details by clicking on the ‘apply now’ tab and provide additional information/ documents required for assessment of user’s application. Calculation results are not intended to substitute professional advice which the user is advised to seek. Loan terms and conditions apply.